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1. Discuss the advantages and disadvantages of using GDP as a macroeconomic indicator
2. Identity and explain the rationales behind alternative measures of the wellbeing of the society.
3. Articulate your own view on GDP and other measures of the wellbeing of the society.
Identify some of the costs (pecuniary and non pecuniary) associated with the antitrust behavior (firms having power in the market). Additionally, note the specific antitrust act (Sherman Act, Clayton Act, etc.) under which the violation was investiga..
For a monopolistically competitive firm in long-run equilibrium: In comparing the demand curve of a monopolist with that of a monopolistically competitive firm, we would expect the monopolistic competitor to have a:
Illustrate the effect of each of these proposed policies in a demand and supply diagram of the gun market. For each question, show the price paid by consumers, th eprice received by producers an dthe quantity of guns sold.
q1. josephine makes 100 a day as a flower shop attendant. she takes off two days of work without pay to travel to
Which of the following is not true in regards to direct materials for a bakery? Eggs would probably be a direct material. Flour and sugar would probably be direct materials. Oil to lubricate factory machines would not be a direct material. Paper cupc..
Kevin Farley, an auditor with Koews CPAs, is performing a review of Knight Company’s Inventory account. Knight did not have a good year, and top management is under pressure to boost reported income. What is the ending-inventory as reported?
The municipal swimming pool charges lower entrance fees to local residents than to non-residents. Conclude that non-residents must have for swimming at the pool than residents.
illustrate why lower taxes in the current period but higher taxes in the future may make some consumers better off.
Consider a small open economy operating a fixed exchange rate. Compare the effects on domestic real GDP of an increase in government spending under each of the following circumstances:
Draw a production possibilities curve for the pleasure you get between hanging with friends and from doing your Economics problem set. Are these activities complementary or are they substitutes? Does it matter which friend you are studying with? How ..
For each of the following scenarios involving the U.S. government, determine the primary function of government that is being served. The government levies a tax on consumers and businesses to pay for the provision of a public good (such as national ..
The Widget Company has estimated the following revenue possibilities for the year: Sales Probability 100 0.15 150 0.20 220 0.30 290 0.20 310 0.15. Find the expected revenue. Find the standard deviation. Find the coefficient of variation.
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